PreMarket Prep

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Monday Movers! Nov 15, 2021

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Episode Summary:Stocks discussed on today's PreMarket Prep: BA, DLTR, RIOT TSN, OTLY, WE, TSLA2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Founder/CEO, ModernIR and Market Structure Edge 35:00Twitter: https://twitter.com/_timquast Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:This is pre-market prep. All right. Good morning, everybody. Happy Monday. Hope you all had a great weekend. And we got, we got some things to discuss today, but I, I, I swear. I was talking with the guys I'm like this close to just saying, screw it with everything. And just putting all my money on some stupid.She bring a new coin or something like that because the FOMO is real. How was your weekend actually? Excellent. Did you see the Michigan Penn state game? I saw the ending of it. Yes. Yes, yes, no, just a great weekend. All around. Uh, just bitchy basketball. One, two. It was just very cold out, but still got outside.Did some fun stuff. How about you? Uh, it was, I agreed. Well, you and I both, I feel like you and I are on the same haircuts, like, well, this is not the first time. It's the second or third time that you and I have gotten the haircuts and the. I think we're on the same cycle. Yeah, I think so. I think so. All right.So this says the new T is kind of throwing me off a little bit. Sorry, sorry. Sorry. Is that what I'm supposed to do now? I'm supposed to redo the quick rundown. Yeah. Go for it. A strong close on Friday, strong after hours. Action. Up 13 handles 91 and a quarter. What we're going to be thinking about today is 94 and a quarter.That's the whole time closing high looks like we got a good shot of taking that out. A crew down a buck, 17 79, 62 under 80 bucks. Wow. Gold down 2 50, 18 66, 10 silver going the same way down a diamond, uh, 24, 25, 25. Bitcoin just won't get out of that. 60 handle up 1680 at 65,009, 15 and a theory $92 and 50 cents at 47 79.The quarter is triple D still lurking around. Did he get a haircut also? Oh yeah. My hair look at my hair. Cut. It's beautiful. Definitely on the same haircut cycle as you guys I'll tell you that much. I haven't been in a hair like to get my hair cut in two years. Just the wife kind of clips around a little bit every once in a while she thinks she's an amateur barber, so she's doing good.What do you want to tell me? What's up? The thing about the intro. Okay. You're okay. I look great.Tennis. Okay. Every beer maker in Canada is cringing. Okay. He's wearing a cores. T-shirt. Did you notice that one more?I'm actually representing a t-shirt. I don't even drink cores. That was the, a chorus teacher that I don't even know if I own a chorus teacher.I don't know, dude. I was Sleeman I don't want to play it again to find out. Yeah, maybe we should. I know Dennis. Nice. My shirt is today. It's a little pocket tee. That's kind of fancy. It's got no wrinkles, no beer shirt. I actually, uh, I probably need to say, I probably need a hair cut. You know, the new things with Benzinga is there's going to be a dress code.That's what I hear it. I know suits a suit. So there you're going to have to ship me a suit. At least the top I'll go like mark canes or he's dead. You know, he got the suit and the tie and the top, and then you get the jogging pants on the bottom. That's the way I'll be every weatherman in America. Yeah.Okay. Let's let's do it back to Elon Musk. What Elon, you must do this weekend. I see stock down. He actually just Tweed again. He's been going at Bernie Sanders all weekend for some reason, but yeah. To your point then it's well, you're referring to, is he sold a little bit more on a Friday night? Uh, he, he sold or not Friday night sorta on a Friday, but at the filing hit on Friday night, he sold, uh, uh, blah, blah, blah, another 1.2 million shares at an average price of 10 29 67.Um, we've got the math going. I mean, where are we? I'm promised I stopped doing the running count here. So do we know we need the thing to go do the math on how many shares he sold? Because we know he wants to sell 17. It's at 171 million. He said it was going to sell 10%. So he's going to sell like 17 mil we're up to.So we're getting there, but there's still 10 million ago. So the stock seems to go down every day because all the muscle more, the gift of y'all guests was two days ago when they rallied after day one day, one up to 1100 bucks. And. Everybody's like, oh, it's over. It's not over do the grade two math. He's got a lot more stock to go.And then they sold the next day and they rammed it and they keep ramming it down. And so now we're at a thousand, I will say huge level for Tesla, $987. That's the low from three days ago, that's the psychological marker a thousand. It does appear that we're going to test that level here in the pre-market.We are obviously down 25 points at 1,006 it's only 20 bucks away. So we look like we want to test it. Does it bounce? It does a hold the 9 87. That's the critical level for it to hold or does Elon Musk selling pressure, which he will be selling more stock again. And obviously we're looking at 10 million shares Maura.So he's not quite halfway there. Uh, continue to put pressure on the stock.All right. First of all, full disclosure, I still have a long position and I'm not sounding like. Have you sold any it's a small positionI saw they didn't, I didn't rebuy it. Okay. This is, and I'm not buying puts on it. I think there's considerable more downside than the stock for a couple of different jobs. All we do is talk. No, no, because 9 87 she's too obvious of a number. Okay. So if I was, if I was true short term trading in there and I was looking for a bounce.Yeah. You know, maybe for a bounce, but you got this nine 50 level right here. Right. You got the gap to fill all the way down to 900. But I think what this is doing is there's never been a really, a good reason to short the stock. A lot of people tried, but right now we talk about overhead supply. There is, you know, you're building up overhead supply now from everyone between 1,012 50 now.Right. So there's a lot of people stuck. So even after Ilan is done, There's still going to be people that are going to there's overhead supplies, uh, is building up. So fill the gap maybe at 900. I am not going to figure any kind of retracements. Yeah, I don't think you're getting there. Maybe, maybe the Elon Musk continuing sales here.No, I know, we know long-term Tesla, I think is a lot lower long. Long-term like, I think if you put Tesla on your line into a portfolio, a thousand dollars, you're going to look back at a one day at like five or $400 to $300 and you'd be like, why did I do that? But I think it's still got, the story is still hot.So it doesn't matter at all. I mean, I think we're like in 1998 for Tesla, I think we could have another year or two of going up before he eventually, you know, everybody realizes, oh my gosh, everybody's doing EBS now, the world, it's all going to be Tesla. And we're all going to have a drive time. And I'm telling you, it's all going to be all kinds of different EVs coming from everywhere.So Miami play is still Fisker. I've talked about it. I've still long and I haven't sold any shares at all. Um, it's going to have pullbacks. It's going to give you opportunities. These things do not go up in a straight line. I think this green venture, it could be a $50 stock with one car. They sell one car Fisker or they, they got the ocean and they got all kinds.They've got more in the lineup here and that guy is pretty smart. So I think you're going to see like once to start production, but you're going to see more. You don't know about the pear is the ocean. And then there's the pair. What's the pair. Check that one out. Look it up here from Fisker Perez and like the fruit, not as in like there's two of them, like the, the, the Fisker pair say here, I'll pull, I'll pull up the images.Do we have images of this? Of course. Is this still a concept or is it actually going to go into. The first repair. I don't actually know. I think it's honoring Claire. I see one right there, pea, or find a, give Google images credit, or they yell at you. Yeah, here we can go with that one. That kind of looks like it showed that ocean and it does all that.No, that's the ocean. That is the ocean. I don't know. Wow. I th I'm a bully, you know, why. And this guy has been everywhere. He's obviously worked for a lot auditors it's auto designer. I mean, I, I, sometimes you just got to say, do I believe in the founder or not? I think Fisker is a smart person, not Elon Musk, Elon.Musk's what are you saying? Joel? You keeping her up. What you, why do you like him so much? I mean, I've just seen interviews of him. The guy seems like maybe, you know, maybe, uh, and obviously I've had a couple of good runs at Fisker already, too. Solike, I mean, we bought a 15 and then went to 30 in like a week and I'm like, okay, we gotta ring the register on someone that came all the way back and given us a second shot to retake it again. I think eventually going to see that 30 again on Fisker, but I don't chase like on all these stocks, you don't need to chase these things.These are longer term plays. This isn't like a short term day trading play for me. If it went to 30 today, Well, that would be too much too fast when they go parabolic and they go crazy during the register and then he'd come out and he'd get it back. But I mean, this has been a slow, steady climb. It is not parabolic.Do I think it's going to eventually pull back to give you an opportunity. I think you get another shot to get back in this thing, maybe even under 20, but I think you got to take that shot. I think it's still, I think people are going to start to realize not just this Fisker, but you know, a lot of these Evie plays and a lot of these DB plays aren't gonna work out in Fisker is still speculative capital.I mean, it might not work out, but at the same time they've got the deal magnet. They're going to start production. Magna's a real company, you know, what do we think? Like, you know, even look, we're looking at Magnus church, that kind of looks pretty good. MGA. Not saying, you know why I don't like Magna. Why?Because, uh, Frank Stronach owns a company and he bought a. Yeah. He bought my favorite racetrack in Detroit and, uh, in my dad's when he bought it, my dad said, man, they're just going to do that. They're just buying it for the land and they're going to sell it and close it. And they did it. Yeah. He owns, um, he owns, uh, Churchill downs.He's a, he's big into horse racing, very big in horse, but that stock chart looks good, but that's, that's important that they got a contract with a big company. I mean, how many of the other Evie companies can say that? Right? Because they don't, the production is going to happen with Magnus. So a lot of these companies have to raise money, trying to figure out how to do it.Think about how much struggles Tesla had with production off the hop. Think about how much of your money they were burning. And they're like, oh, they're going to run out of cash. Think about all those struggles. You know that, and then, you know, you've got to deal with Magna here. So that helps with all of that.Cause, but you know, regard, everybody's got their opinion, there's some new TV plays. Um, you know, there's a lot of people don't like Fisker, I mean, results so far speak for themselves. Stock has done pretty good. Um, but you know, it could go to zero, it could be a zero. So that's why I stay diversified, you know?And we talk about that all the time. Know I own like, I don't know what 80 stocks or so 90 stocks my longterm portfolio. So if that one went to zero, okay. I would lose 0.8% of my net worth. That would suck. But I mean, at the same time, you've got to have some capital in, in, in growth and speculum capital.So you pick your stocks. I don't have Tesla longterm portfolio for the simple reason, but I tell you, you know, people, you know, it doesn't go my long-term portfolio, but it's my day trading board oil a lot. It's not in there right now, but you know what? I try the 9 87 for a bounce. Hey B, we got to see what it does there does it like, is it hit it hard?You know, what does it do? Does it do the undercut and rallies? A lot of times I go 97 and go down to nine 80 and then get back above it and then show some life. You kind of want them when they start showing life. But the problem is with men LMS still sell 10 million, 10 million more shares. People are trying to get ahead of that and they keep dumping ahead of that saying, he's not done yet.It will probably have its rally before he's done though. So I don't think like, wait until the day he's done selling and it's going to bottom that day. We'll probably bought them before that. So we're in the, kind of the middle of it. Is it, are you early on the treadmill? It's hard to say, but we've lost 200.We will have 20%. So it's a suggestion. And how much is he? It, he's not even sold half of the steak, right. Or half the first half is going to be the worst because there's people getting ahead of it. Now there's, you know, people short, the stock, those people are going to have to cut. There's probably people that put the stock short on just anticipating that he's going to be selling.It's going to go down. Those people eventually got to get out too. Not saying it's going to be a huge short squeeze and Tesla. It's had a short squeeze forever. It's for a short and just probably way less than it was years ago. But there's some short term traders in there playing the short side, trying to anticipate that he sounded more and they're right.They've been correct. So I, I think you're a little early, but that levels at 97, if you wanted to try it, it's a level, you know, at least we got a loud, you hit it yet in the pre-market just to give you out. If you're looking, uh, actually hasn't even hit a thousand yet. Uh, pre market, low standing at.Pre-market one double oh 2.505 and a half bucks, but there's one thing you don't necessarily have to shorten it. But I mean, if we could talk to people, you know, if they're attempting along, you know, just to be aware of that, you know, this is like, this is market structure. This is dynamics. There's a big seller in there.Right? Do you want to get, do you want to figure out what if he decides to sell another 10%? I don't think that's going to happen. I don't know anything, but we don't know yet. And he can do whatever he wants. We, all we know is he…

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Johnson & Johnson Splitting? JNJ Stock Nov 12, 2021

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Episode Summary:Johnson & Johnson splitting into Johnson & Johnson? JNJ StockElon Musk sells more TSLABiogen has good Alzheimer's data BIIB2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Nate Tobik, Investor and Founder of CompleteBankData.com, author of The Bank Investor’s Handbook 37:00https://twitter.com/oddballstocksMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:What's up everybody happy Friday. We made it. It's the end of the week. But that is not, it does not mean the excitement is over. I want to show you guys something. Check this out. This is pre-market prep with Dennis Dick Spencer, Israel.oh, what's that a new intro? Maybe? I don't know. Do we stick with it? Do we change it? Do we go back? Let us know what you think in the chat. We're open to feedback, but we thought let's change it up a little bit. Wait, let, let us know what you think about it. He thought it was. Too long. You didn't like the music.You liked the music. It was feedback in the chat. We're open, we're open to it all. Uh, guys, we got a lot going on today. We got some big news in biotech slash healthcare land. Uh, Biogen had some news Johnson and Johnson has some news to talk about that. We'll probably talk about few more shares of Tesla yesterday.We're going to talk banks with our guests today. Nate Tobruk is the author of complete bank, data.com and the bank and vastness handbook. He would run the show at 8 35. We would do some ticker time at the end of the show and then Mitchell Jewish segment, or he'll run through what's on his radar. In the meantime, let's bring up Joel's charts here.Tell us how we are doing. We're doing okay. Spencer of quiet inside day on, uh, uh, veteran's day yesterday caught a bid right above the clothes. We got a double close area that's kind of rare 42 and 43. So that's my area of interest on the downside, uh, on the upside. Quiet. We couldn't, we took out the intraday high, but not the, uh, the globe backside.So we're chopping around here. We'll see if we can get that 46 60 handle and barrel towards back 4,700. Got some work to do under downside. We'll see here by the quiet overnight range, only 14 points are crude flirt with 80 bucks. Again, that's down a buck 36 at 80 23. Gold's down six 60 it's 18 57, 20 Silver's down 18 cents and 25 11 oh Bitcoin taken a little haircut today down 1180 at 63, 8 75.And the Ethereum go in the same way down 157 bucks at 4,600 and a quarter. That's a little over 3%. So one of the first news items I see today is this Johnson and Johnson split. And so the first thing I think is men. I hope Dennis is not short Johnson and John. No, not sure. Johnson was long Johnson and Johnson overnight.And this is what I tell you on any given day, random news can work in your favor and out of your favorite, don't let it affect your strategies. Because a week ago, when I was short general electric, and that announced the split into three companies, I got murdered on it. People saying, maybe you should decrease your size.Maybe you should change something up. And I was like, absolutely not because it's random BS, bad luck today on J and J. I just happened to be long and overnight I've already sold it so I can freely talk about it. Um, it's just not it's that's not like, oh, I'm a good trader because I just made seven points on Johnson.Johnson. Yes. I made seven points because I sold it earlier this morning. Um, it's only up for now. But I'm not, you know, it's, it's not just good trading. That's just BS luck. That's so this as much as my GE short, when it renounced random news was BS, bad luck. This is BS. Good luck. So I was thrown into the BS jar because you're not a good trader because you just made seven points on J and J this morning, you got lucky.That's just random luck. So random luck today ran a bad luck last week. I basically net out. So, you know, on that. So I have a better day to day. Probably. Can I ask you a couple of questions here? And this is something a little bit of a preview for the December 11th event, where you at your desk, when the news.No, I had slept in a little bit, but I missed it by about 10 minutes. So the trading afterwards is some skill involved. So the nice thing about this general electric, you know, is that it gave us precedents on what they're going to do for stocks after splits or after they split them up into different companies.So somebody came and they just couldn't stop buying change. Hey, this morning and bought all the way up to $172. Okay. We already know that GE not only gave back, it gave back all of it and is now trading lower than when it announced it. So it appears that they get the initial hop and spike off this, and then they give it back.At least that's what they did with GE. I think the same thing is going to happen with J and J. I think the same, thing's going to happen with J and J I would be selling it even at 1 67 and a half this morning. I was long. It, I sold at 1 69 and a half. I didn't get the 1 71 71, cause it was up there and you can see the initial spike up.And I wasn't at my desk at that time, but when it came back, you know, um, I must've got to my desk. Well, no, actually I was on the initial candle, I think an initial candles. What? 20 minute candle? Joel. 15, 15 minutes. Yeah, I was right in there. I was in there somewhere. Did you like, did you sit down and you know, did you, did you, did you just come out and say, okay, I want out at 1 69, there was a bed and you slammed the bed?No, I thought six and a half bucks was good enough on news like that because, because G had just given it back, if G hadn't given it all back over the last three days, I might be like, well, maybe I'll digest and see, but now I have pressed. So I'm like, okay, I'm just getting out. So I think I hit the bed at 1 69 and a half.It actually was up at 1 71 after that. So I could have got a little bit better price, but I wasn't sitting around waiting to see it start leaking. Cause I don't know. And, and I'm just getting into my desk. So I didn't have time to like really analyze what was going on that much, other than the fact that I see a split.I see, I just saw this last week and the stock gave it back. So it makes me think that this could give back to, I think six and a half bucks is too much. I think. So I made centimeter and I guess I made six and a half. So, uh, you know, that's why I turn around and sell it. So now it's only four and a half, like I said, could, you know, it's going to be talked about in the media.It's on CNBC right now. I mean, Jim crane was going to talk about it. Jim Cramer likes J and J he'll talk about up and maybe pop into that. But I think when the dust settles and we look at this a week ago, Other things being equal, meaning, you know, we don't have a rip Rowan rally and all healthcare stocks.Um, and there's no other news in J and J I think J and J could leak a lot of these games. The only reason I asked and then we can move on. I know we're spending a lot of time on this as if you know those initial candles, when it was this one on its way up to 1 72, right. That like you would have, if you would've seen it there, I do like, ah, you might've disliked on the way up, you know, like a whole number there.Might've thrown something out there at one 70. It just because the market's moving so quickly. Right. I don't think yet gore. I think I was out of, I think if you're looking at the candles better now, so that initial spike up candle, I was in the second candle, the second blue. So I'm not in that initial one.Cause that's a better candle. I'm looking at them in the second one. I wasn't, I was actually, I was tired last. I slept in a little bit. I usually get to my desk before six at sometimes at six o'clock. I thought I'm at my, I was up at five 50 and I laid in bed for like ever. So I was like, I just didn't feel like going down.I actually did check some quotes and stuff at like six o'clock and they didn't seem to be that much going on. Obviously this news broke around, I think, around six 20. So I got to my desk, I think it was in that second candle from Paul. Why don't you reverse and go short? I mean that's yeah, that would have made money.That's that's a really hard thing to do when you're launching something and then turn around and go short sometimes. And when you can do that, you're really on the ball. So yeah. Would have worked in this case, but I would have taken some heat on that too. Um, so it's always easier to sell along than it is to turn around and say, okay, actually thinks this is bearish.So do I think it could leak it back? Yeah. But do I think there's still some pops in here? Do I think there's going to be a Cramer push at nine? O'clock probably, I'd probably sell more into a Kramer pop if he comes on and he gets behind this, like, oh yeah, this is great. Maybe even talks about on mad money.It could pop a little bit more because of that. So I think, you know, up for it doesn't feel like much of an edge because you still have a lot of people. I mean, it's on CNBC right now. So they're gonna talk about all day so that could drive more volume into it. As people talk about it on media retail, traders, get in.I do think. If you're in this stock, I think you need to ring the register. I would say right now, after coming down off that 1 72, I'm just looking at this 1 67 and a half area. This is just very short term. You know, I would, and I saw this in GE I remember one 14 and I was saying, if they can't hold one 14, am I give it away?Give it back right now, kinda that 1 67 and a half that looks at. But the other thing I just want people to think about is this stock got up to this area right here. It has a traded there since early September Johnson and Johnson is a fairly thick stock. All right. So in order, so if you, if you think about how much it's triggered a lot of volume, it could definitely open up in this area, but if you add up all the days and all the volume and all the potential offers out.That is like a huge move. And if you were doing that, I mean, it would almost never happen in a regular session. So this is one where you got the good price in the, uh, in the after hours. We'll see. See what happens in the regular session though, but I'm glad you were on the right side of that one. Dennis.It's random luck. So you just got to, when you have random, bad luck kitschy, it has got to chalk it up and say, that's not, you know, if you're trading bad, you're trading bad. Sometimes I trade fantastic and I lose money for simple, bad luck. So it's like a casino. I mean, the edge is 52 55. Maybe it's 60%. If you have a really good edge, you're gonna lose 40% of the time.42% of the time. I know people have 95% win rates. They don't take losers. And eventually those little losers turned to big losers and eventually get rocked. Like somebody was talking about, um, you know, a trader that, you know, hasn't had any loses, any doubles down and he doubles down and it keeps averaging down and eventually comes back.We know how that story ends though. That story ends. Like if you average down, and this is why, you know, the casino has limits on, you know, doubling down on red, red, red, but you know, you get to a point where that roulette wheel goes, you know, 10 times in a row, black, 12 times in a row, black, those losses get immense and they get huge.So you can double down, you double down, they doubled down, they double down and 98% of the time, the stock eventually comes back and they get their money back. But that one or 2% of the time when you've averaged down so much and you've put so much capital to that, what happens is you end up often blowing out your account.So you win 98% of the time. But on the 2% you blow out your account. I don't like that either. So you can Jack that win rate up a lot. You can have it really, really high, but you better be knowing what happens when that black Swan hits or, you know, that time that it doesn't come back. And it isn't pretty.And I've seen a lot of JJ question, Eric, why were you long? Was it just to, I had to get something else. Do you remember. I needed stock. I was just too short spot. I'm doing the yard, but I'm just buying the stocks against the index. So I do the ETF AARP. So, um, I'm just buying and I do it, you know, I do it all the time.So, you know, I'm just doing the Arab to try to build it. I don't do it like high-frequency style. I build it and replicate as much as I can. Like we've talked before Joel, when you've got those top 10 components, you're pretty good correlation with the overall market to the tuna, like 94%. But if you only got 10 stocks against the S and P you're going to have those outliers where, okay.All of a sudden Tesla has a bad day or something. That's a big component, you know, that, that can throw out that all out. So it's a different style, but I needed stocks last night and you know, I just, I bought some J and J so I don't, I don't remember. I probably, I analyze that for like less than 300. I just needed to buy stocks.The market was ripping last night. I needed to buy stock. Don't acknowledge my joke on the screen here. Josie joke, Johnson and Johnson will become Johnson and Johnson. It's that funny? You tried it on me earlier.Um, can I control those, uh, those graphics down there? Can I get to put stuff up? How do you do that? Yeah, if you want it to do we want to do some teaching today? We do want to do some teaching. We're getting some great questions. Paul and Paul messages, me, uh, he, he, he, he gives us, he's given another one.It's like, when you do your Arab, is it random? Or do you pick pick sectors? I try to sector hedge as much as I can. Like I try to banks with banks come up, you know, oil stocks with oil stocks, you know, steel stocks was still, if I can do that, that's awesome. If I can't, you know, once I get big enough, once you get like 50 or a hundred positions on, then you kind of are the S and P to a certain.So you can start and remember, and I was adjusting during the, you know, if I got a lot of smaller caps or mid caps, I might do IWM against about a lot of tech stocks I might do QS against, but when Tesla was going nuts there for a few days, I actually was using XLK just to get away from the Tesla impact on the QS.So you kinda got to understand, you know, what's the percentages and the different ways to do it, but there's so many different vehicles to, to hedge with your ETFs. And you know, and a lot of people say, well, why do you hedge? Why don't just go long? I mean, a great market. Yeah. You know, probably over on a bull market, you make more money just going along.But, you know, the difference is in a bear marke…

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Elon Musk Sells TSLA Shares Nov 11, 2021

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Episode Summary:Elon Musk Sells TSLA SharesDIS EarningsSOFI EarningsBYND EarningsAFRM Earnings2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Marc Chaikin, Founder of Chaikin AnalyticsTwitter: https://twitter.com/marcchaikinMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Good morning, everybody happy Thursday, first things first, before we actually start the show, just want to say happy veteran's day to all the veterans out there, uh, in the U S and Hey, even otherwise for that matter. Uh, thank you for your service. And now let's start. Today's showcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a Val tile puppy here. Isn't it. And Dennis stick, I've been the petty. I will buy the stock for a pen, which everything that you need to start your trading dayAll right. All right. All right. Good morning, everybody. How are we doing yesterday? May well have been Spencer's portfolio reports earnings day. Cause we got Disney reporting. We got so fire reporting. What's talking about that. We got a firm we got to talk about beyond me. Uh, there are so many big movers up, big movers down as I go into my movers, told him Benzinga pro fossil group for some reason I'm 35% today, but we got to talk about open door.Right? We've got to talk about, uh, we, we should probably hit on the big IPO from yesterday. Vivian, we'll talk about that. Uh, once we will start the show by talking about Tesla, I would imagine, um, Ilan did what he said he was gonna do. He sold a lot of shares. Uh, this week, Monday, Tuesday, and Wednesday. Uh, those filings all hit after hours last night.We'll talk about them. What they mean, what they don't mean and maybe what will come. Down the road from Ilan, but first let's bring on. Oh. And also before I bring on Joel, our two guests today, mark shaken. It's been a while since we've spoken to mark and mark will be on the show at eight 15 today, and then Peter Tuckman, the Einstein of wall street on the show at nine.But first let's bring on Joyal Connie and his charts. Joel. Good morning. How are, how are we doing today? I got a new nickname for you. Oh gosh. Yes, no. Yes. Chipper. Okay. Yeah. Cause you're only so chipper now I, in the morning you're like, oh yes. And it's like, I'm only excited on the days when there was a lot to talk about on the days when there's not a lot to talk about, I'm not excited.You know what lately. There's been a lot to talk about. Let's bring up the charts here. We're up 60 in a quarter handles by the dip works for the 47,000 time up 16 and a half handles 58 50 pre-market high 61 50. Uh, let's just see. Let's see if we take out that pre-market high and get back up to the close.Uh, the two day close at 78 and a quarter, a cruise on its heels. A little bit down 45 cents at 80 88 gold in the green by 12 30, 18 60 and a half. Serving the green to 21 cents. Knocking on the door 25 Bitcoin, the old make a new high and go down trick. That's down 6 45 and 65,430. And theory of futures are going the opposite way.You ARBs got to get this right up $81 and 25 cents at 47 31. Eden and let's bring in the best dressed man on wall street. Yes. I even changed my shirt. I was going to go for the third three days in a row, but Spencer advised me that I shouldn't wear the Benzinga shirt for the third day in a row here. So I went blue for you, Joel.And you know what I did last night. What'd you do for the first time? Since February of 2020, you went through Michigan basketball game. Exactly. Yup. Yup. And they won. They look okay. No, they didn't look good. Come on. They didn't look good. I watched a little bit. They don't, you don't need to look good against the Buffalo Bisons.Did you see how many players he put in there? He rotated a lot by the time I would say 87 and a half percent people were, were wearing mass and it was fun. It was fun. So yeah, back to the first indoor sporting event, when I'm going to a concert. But a lot of singing going on at concerts, a lot of shouting at matches, a lot of stuff.I don't know, what's worse singing or shouting. So I'm not going to hear those things. Are you getting killed on anything today? Ah, you know what, actually, no, it's just like the first day, this week that I'm not slaughtered on something. So I'm sure the longterm portfolio I'm slaughtered on something.There's a lot of stocks moving down 30%. I probably have one or two of them, although I don't have the Disney and I called that one out. So we should start with that. I tweeted out right before three minutes before I was like, I was nervous about this report and I was worried, you know, I've been there nervous and it's talking about it.The duty to start with you on, please. No,we didn't read. We got to look and read the right thing. It's right on the screen right now. It says, follow the script. We didn't look, we jumped right over Ilan. Cause we talked to you on forever. I got sick of talking and we were talking at the pre pre-market show when we were prepping it. So I kind of thought we already talked about it, but we had talked about on the air.So let's go Ilan south. Yay. So yes, Monday here. Here's the timeline of events Monday, you know, mock exercise, a little over 2 million stock options, uh, sold about half of those on Monday, Tuesday, and Wednesday sold another 3.5 million shares. Uh, those. Sales were worth around $3.9 billion. So in all he sold a little less than a $5 billion worth of stock over the last three days.Now, some of those sales were pre-planned. It says it in the final thing. And I can actually share my screen and show you the show us where to get this, these numbers because of your subscriber. Benzinga pro. And a lot of our listeners are show us how to, so I'm on like the Benzinger pro home screen right now.I'll go full screen here. I'm on like the Benzinger pro home screen. This is the default screen for everybody. I went to newsfeed. You had a newsfeed, you change your sources, or I've got been single wire. I'm going to uncheck that. And I'm going to check S. Okay, Don, these are all your sec filings. And then I don't, I don't care about XR, TX or lucid this morning, but I do care about Tessa.So I just search for Tesla here on the top. There TSLA. Oh,And so the first one you will notice here came out at 6:24 PM. Last one I tweeted, right. This was the one that showed him, exercising his options. Uh, and you can see here, if you scroll down, it'll show you, uh, uh, you know, all the transactions. These are from Monday, right? These are all transactions from Monday.Um, part of that original option options, expiration, uh, no, not exploration, um, exercise. Thank you. Um, and, and yeah, so, and these were pre-planned the, the, cause it says it right there, right? Boom rule 10 . Preplanned sale. That's what that means. I look when I was adopted, look when it was adopted September 14th.Yep. Boom. Right. So, so I just, you know, and, and obviously, you know, we've got a lot of people on Twitter saying the same thing was he put up this poll last weekend while after September 14th, should I sell my Tesla holdings when he already had the plan in place to sell the poll in itself was just BS.Basically. It was for fun. It was for fun. So I, he already had the plan in place. Maybe if the poll was negative, we would have pulled the plan. Maybe that's the case. But the plan was well before that Twitter poll came out. How many shares was at, do we know the aggregate for today? Uh, yeah. For all the days to, uh, yeah, we're what two, a little over 2 million shares.And that was on a Tuesday. No, no, this is Monday. Ooh. I haven't even gotten to Tuesday or Wednesday yet. Oh, there were 33 million traded that day. So if you got a piece for 2 million, that that's a decent chunk of the volume, so that was Monday. And then you go to all the rest of these filings. This is, this is all Tuesday and Wednesday, right.And these were not planned. These were not part of the 10 B one filing. Okay, let me get rid of that there. So, um, again, uh, uh, about three and a half million shares, uh, sold between Tuesday and Wednesday. For about $3.9 billion worth of, uh, shares. And so now the question is for first off, and this is what Joel was saying, uh, Elan is well within his right to do this.It's the only notable cause the guy literally never sells. Right. He hasn't sold. I think in like five years, I watched the filings closely. I never see Musk drop a filing. He cause he never sells so here, but here's the deal. So how many shares have been sold total? Like in the last three days that we know of from the sec filings, um, do you have that number over 4 million?So 4 million shares he owns and he can see in his trust he still owns 166 million shares there at the bottom of that's the last one. Yep. So, and it was 171 I believe. So you're right over for a million shares. But if he says he wanted to sell from the Twitter poll, he says, should I sell 10% of my whole.That's not 4 million shares. That's 17 million shares. So there could be another 13 still to go. If he is indeed going to sell 10% of the holdings. So this is not 10% of the holdings. This is about 2% of his holdings. So there could be another 10% to go. So just, you know, being careful here because the stock is repping thinking, he's done, it's up 27 points thinking he's done full disclosure.I do have a small position on Tesla. It's really minor. I should just cover it so I can freely talk about it. Um, but cause it's just the leftover odd lot actually. Okay. Okay. I've covered my Tesla due diligence. So I just, I, it was literally, it was a little piece of an odd lot. I didn't even realize I still had, so I had shorted this, you know, last night after it popped 30 bucks.Cause I thought this was stupid that it was popping $30. It hasn't come yet. So, I don't know. Maybe it will come in. Um, I just want to be able to talk about it while I reinitiate the short on Tesla. Maybe I don't get it. I don't get why it's up 28 points. I don't get something off and do take a position on it.So I don't know what to say. I don't understand. So now I'm flat Tesla. Um, so now I'm going to freely talk about, I don't understand. I don't understand why it's up 28 points when he's only done 20% of the sales he was going to do. Does everybody think he's done? Is that the reason I'm asking you guys?Yeah, I, I don't. I also don't know if it wasn't, uh, if it, I mean, doing the simple math and it's uh, no, if he's going to go and he said, w would abide by that pole. That means he's still got about 13 million shares to sell. So that means he might be selling today. He might be selling the next day. He might be selling the next day.I mean, it's taken him three days to get rid of 4 million. So if he's got another 13 million ago, he could be doing this for another week. So I don't totally get why we are rallying here. Um, but it's up, it's up 27 points. I may reinitiate the shirt again after the show. We'll see. I don't totally understand it.Uh, but you know, when I don't understand something, maybe it shouldn't be trading it either. So yeah, I, it ripped and roared after the filings because everybody maybe thinks they're done. But when you do the math on. I don't think he's done selling chat. Chad says they agree with you. I think, I think there's more filings to come and, you know, what's popping up.My sales could put pressure on the stock. So I think the 27 points here as a gift, to be honest. So I ha I haven't had time to drill down on my levels yet, but, uh, I do have one, one level in mind, uh, that I'll discuss with Ilan later on, uh, moving forward. But, uh, it's a nice bounce. Got to 1120 that you pre-market high.Uh, the volume was pretty big yesterday. Uh, dipped under a thousand was bought. I would, you know, if I was still on this and I was like taking the whole Ilan factor. I wouldn't want to see you go read today. I'd let you know, 10, 10 67 95. I'd be like, man. I said an out those two days, and now it's getting the bounce.I don't want to be, you know, at what about 1100 now? Um, you know, is that, is, could that be a level like institutions that are longer zillion shares? They're not gonna say, you know, they don't have to file it, but they'll say, wow, man, I miss 1200. Maybe it'd be good to peel out of a couple million at 1100.There's no direct level there, but you know, if it gets to 11, 10, they hit Samba 10 90, it hits some. So he might not be the only one selling out there. But, uh, th that, that close is pretty important. 10 67, 50% retracement of the full move, 1243. Down to 9 11, 15, 11, 15. That's the one I texted you. Okay. So 1115.And that's where we struggled here in the pre-market here as well. So, you know, obviously we got to 1120, it looks like at four o'clock in the morning and everybody got so excited, so excited. Oh, Elon Musk has done something. I better buy, let's do the math. The math says he's not done. So the math says, I don't want to be long.And yet if he's not done, I put it. We put a poll on the chat 82% and say, no, we don't think we may have slightly influenced that poll because we just said, we think he's not done. And then we did a poll, but I don't think he's done. We don't know. Maybe he has done. Maybe, maybe the filings are still to come maybe already solely, you know, it's a good point.You know, it's up to, you know, I may have sold more Tuesday and Wednesday that we haven't seen yet, but I think he still got more. I don't think he's got this all done here in the matter. I mean, it's such a battle. I mean, man, the guy built a company, but the stock people should just like, forget about it. I mean, if you're allowed to stop, well, I don't care.I'm not saying he's doing anything wrong. Although when he put out that poll and it was, he had a pre-planned sales already in place, it's kind of a little bit stupid, interesting to say the least, but he can do what he wants. I have no problem with them selling stock. He's held the stock forever. So sure.I have no problem with that at all. I'm just saying if he's still got 14 million shares to dump, the stock probably is going to, you know, maybe give up these gains. So we'll see. Is what's he buying? What's he putting his money until, okay. Well, first things first as he's paying a whole lot of tax taxes.Yeah. First thing taxes. He's borrowing taxis and they know what, maybe, I don't know, maybe a dump it into space X a, I don't know. Um, right. Fig 16 minutes. Can we move on now? Well, now we got my chick…

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How Bad Was Inflation In October? Nov 10, 2021

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Episode Summary:Rivian IPOEarnings from Coinbase, DoorDash, Upstart and more; COIN, DASH, UPST2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Joel Kulina, Head of Technology/Media Trading, Wedbush Securities 37:00Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Morning, everybody happy Wednesday. We got a lot going on. Today's so many movers, so many movers. It seems like every day stocks up 20% stocks down. It's a hundred percent and not just random stocks, like big stocks to stocks that we've all heard of. And talk about. We talk about that. We got inflation, don't forget.At eight 30 CPI, we have the long awaited, an IPO, probably the most hyped IPO in quite some time. So we got a lot to get through today. Let's get to the show and hopefully cover all of this, uh, or as much.Coming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a vowel tile puppy here. Isn't it. And Dennis Dick I've been in the penny. I will buy the stock for a pet with everything that you need to start your trading day.Mr Joelle Connie. Good morning. How was your day going so far? So far? So good. Good morning. Good morning to everybody. Uh, starting the day, a little bit in the red, uh, found some resistance just above the clothes were down nine and three quarters handles at 46, 68 50. Of course, that all could change it.Eight 30 when we get some more inflation data, our crude in the red by 49 cents at 83 66 has a high at 84 97. So buck, buck 40 off the high. Golden the red by $2 and 50 cents at 18 28 30 silver going the same way. That's down about 4 cents to 24, 28 Bitcoin peeling back a little bit down $1,070 and 66, 5 55.And a theory is going the same way. That's down $73 and 75 cents at 47, 28 and a quarter let's bring in a triple D triple D needs a vacation season, triple D just stepped away. And other areas here. I was here the whole time. Oh, your camera was off. So I didn't know. I forgot it off. All right. I do need a vacation.This has been just, you know, the markets get me. The kids are getting me too. I mean, I've got sick kids here for, I feel like a month anyways. I just finally got both kids back to school and then just middle of the night, 10 o'clock I just an unbelievable the four year old. I, I, I hear and she's in the bathroom throwing up.She got woke herself up from a deep sleep. A four year old, got to the toilet, did not even spill a drop and got all the puke into the toilet. So hero in that way, but no idea why she was throwing up. She threw up multiple times. She wakes up this morning and she's perfectly fine. So I have no idea what's going on.I get to keep her home from school because obviously she's throwing up last night. So we got the kids here, but, and then the boys throwing a fit because he doesn't have the pants he wants to wear. So well, welcome to a TA like a young kid problems. I don't know, actually, I, I was trading, so I don't even know what they have.So I don't know. Actually it appeared to be some type of noodle though. I will tell, I will say that that's crazy though, that a four year old woke herself out of a deep sleep, got to the toilet and threw it all up and didn't even spill a drop. I mean, I can't believe that. So anyways, this is a, this is a tangent of all tangents, maybe.So we should bring, I mean, I was waiting for a vacation. I was like, I need a vacation when the markets that is killed on something every day, I don't mean to rub it in, but I'm 99% sure you wore that shirt yesterday. No, I know who changes their shirt during earning season. You've got kids puking. We got earnings nonstop.All I do is trade. I mean, I'm trading nonstop, so that's all I do is trade. I got to dig myself out of these epic holes I have every morning. So. Today's whole, I don't actually, I maybe not in a big hole here this morning. I don't know, but I'm not in great stocks either. So this has been one of those, I'd say a month where it has been a rollercoaster ride of a P and L usually my P and L is fairly stable overall, obviously individual stocks, but with the moves that we're having, and we've been talking about this, it seems like there's a stock up 20% or down 20% every day.Doesn't it like it like multiple stocks today moving 20 plus percent. So, I mean, the moves are so extreme, extreme moves. I don't even know frankly where to begin. I mean, do you want to start with like yesterday, like Tesla or you want to go straight to the earnings here? Cause we can, maybe we should start with Tesla because it loses 170 points because mosque tweets out.I might sell some stuff. I mean, this is the volatile market on individual and overall the spine is not Volta, which is funny. Joel, you know, the overall market is really not that volatile, but there is individual stock volatility, something years. So yeah, Tesla loses a hundred foot from the high, when he tweeted on the weekend, it closed at 1222 Teslas and allies 200 points in two days because of an Elon Musk tweet that, uh, should I sell some of my Tesla stock?And obviously we think he's going to sell. So I guess that's why everybody is selling the stock to get ahead of his sale. But you know, is it good? Is it over, down at this point in time? I don't know. It's over, down to the buy side. It's over to them. The downside. That's what Tesla specializes in the stock is being over.So who knows what this stock, it is wild. I would use yesterday's low 10, 11 as a first bounce point. Takes that out then, you know, you probably think 50 bucks lower cause that's what Tesla does. So my bogey would be yesterday's low 10, 11. Can it hold? He had a Michael Berry tweet yesterday, too. I think that a Tesla, but he's been tweeting about that for a long time.And then you also, now it's so, you know, it's a big part of the S and P 500, getting bit was getting bigger every day. So, you know, you have it knocked the entire S and P down yesterday. Joel, like, if you want to know why you saw the market week yesterday, it was Tesla. I had a reporter calling me and they were trying to talk about PPI and all the other I'm like it's Tesla.The whole market is down because of Tesla. There was absolutely no doubt why the market is down. Tesla, Tesla, Tesla, Tesla, Tesla. It loses 170 points. It's a big part of the essence. It's going to bring down a lot of other stocks too. We'll look at that and run. I mean, you know, it had a run from nine feet. I mean, 900, that gap would go on earnings.So it was 900 to 1250 with the, you know, Marriott down day. And, uh, then you got to, you know, the quiet days up to the top and then you get the Musk tweet. It just took a data to resonate with investors. Pre-market low. Nice round number comes in at a thousand a we'll see what happens with, uh, you know, test of the close.At least it's just kind of been leaking since that, uh, that 4:00 AM open, but keep an eye on the clothes, really hard to find resistance. Now, if this starts to rip, uh, maybe if you do have a long, you're trying to scale out, you know, maybe, you know, throw something out there at 10 30, 10, 40, 10, 50, you know, and scale up the size.We talked about that yesterday in AMD. I know bill big D was looking at it like. You can't sell your stock if you don't have offers out there. Right? So let the market what you could sell it on the way down, but you can't have a feel for the market. If you can't, I'm going to teach you the exact opposite.Joel, though, when I'm going to, I'm going to take the opposite end of that spectrum with the way every market maker leans on your orders here. Now I actually, if you're, if you're trading an earning stock, I would say, yeah, if you're trading stock, I hate having my orders out there. I hate showing my hand because 100 shares on a mid cap stock affects the market.I'm not joking. You can have a market's 27 wide and you go and you throw out your order to sell it. A hundred shares, just 5 cents down from where the best offer is. And all of a sudden they hit the bid and it's offered there. And you're like, what happened? They got a real seller. Oh my gosh, it was a hundred Sarah's sale.It was a hundred share order selling in this. There's so much envelope, liquidity, high-frequency liquidity. It's 95% just fluff, basically that when they have a real order sitting out there, it moves the price as a hundred shares, move a stock of bank America. Absolutely not. But if you're trading something that trades under a million shares and you're showing your hand actively, you can chase the price away from you.So I don't like showing my hand whatsoever. I use a lot of discretionary orders. We're going to talk about this and R and R, but I think when you, if you're just sitting your orders out there, I, what we teach our traders now is sitting limits makes you a sitting duck because one they'll lean on your orders for protection.The off exchange market makers will lean on your orders for protection. And they'll pick you off when you're on the wrong side. So, you know, it sits there as a P is not moving. You got your bid out there, they're hitting, but you're not getting filled. You're not getting filled. All of a sudden the SPS are all over and you're filled and it's here.So I hate sitting my orders out there. I take liquidity and believe me, this occurs a hundred shares, like are traders orders. And I'll tell you, the majority of our traders is what's called taking liquidity where we're not sitting orders out there anymore because the market makers, the opportunities, market makers, even the on exchange market makers will use them to lean on them as insurance.So they'll sit on yours because there's so damn fast to sit on your order. They'll buy ahead of you, the buy ahead of you because they're leaning on you and all of a sudden looks bad. Oh, you got it. Now it's here sitting your orders out there makes you a sitting duck. We're going to go into all this in depth in December when we have our next educational event, how we get around this problem, December 11.Um, I think the Saturday. Yep. We're going to get that up on the site, uh, this week, but, uh, trash talking about Palentier here. We should find it. We can start there. There's so many earnings. I mean, this was two days ago, so, correct. Uh you're right. Actually it was yesterday. It was yesterday. I don't think we talked about, yeah, the EPS was fine.The sales was good. They actually guide above estimates and, uh, yeah, it was fine. Beats me. No, no, it doesn't though. It was, it was in line. So it wasn't great. And yes, they did guide slightly higher, but it's really slight. So when it grows, stocks don't have super growth. They usually do hit them. They want to see a big guy.They don't want to see, oh yeah. 152 billion versus we're going to guide 152 or 1.5, 2 billion versus 1.5, 1 billion. That's basically in line. You're not showing me that. Oh yeah, we're going to kill these estimates. It's like, oh yeah, we're kind of comfortable with the estimates. So it wasn't a great report.And they hit the stocks. And in this, in this earning season, they are slamming higher growth names. They were slamming stocks in, this is not a low piece, not a value stock because 117 they're hitting those kinds of stocks. And if they're, if they're not blowing the numbers away, if they blow the numbers away, then they're buying them.But if they're not, then they're hitting them. So they hit it. And what you're also seeing in this earning season is wicked following. Where, you know, we say, okay, well buy the dips on stocks that are an uptrend that's tends to work. Still. Palentier is definitely not in an overall uptrend. It's a no trend.So the stocks that are in up trends, stocks are in downtrend. Stocks are in no trend. 2021 started Palentier around $24. It's $24 here today. So you can clearly say there's no trend here. So we don't talk about that a lot. Are they buying stocks with no trend? I think they're still buying stocks on dips, only an uptrend.So, I mean, you look here Palentier, this wicked follow-through, they're moving on to something else. You have this moment. Capital that just as it's a lot of retail capital that just keeps flying into what's sexy, what's moving. That's what I'm buying. That's what I'm buying. And that's why there's so much wicked follow through here.And retail is driving the bus to a certain extent. If you go back 10, 15 years ago, retail was 12% of our overall market volume. It's approaching 30. I believe so. You're talking, the retail has taken over a lot of names and that's why you see these wicked moves. It's retail. Retail is actually driving the bus and a lot of different names.And this is a retail driven name. Certain stocks are not retail driven. Some stocks are a Palentier is a stock that I have. Somebody tweeted me every single day. What do you think about. This is a stock that's widely followed in the retail community. And you're getting a little shake out here. I don't know where the stock is going long-term but it's clearly not in an uptrend.It's in more, no trend it's um, you know, obviously not a cheap stock it's uh, it's, uh, it's a growth stock and a growth stock that isn't growing up big numbers. I'm not interested at this point in time. Uh, there's a little bit of buying interest at 2350. Uh, as we speak, that's been holding up since 7:00 AM.That's some shorter term support. Before you found buyers and earn late September, early October, closer to 23. So we'll see if you're looking. If you're looking for it to get a little bit cheaper, but 23, I'd see 1, 2, 3 lows, right? Between 23 and 23 and a quarter on the upside. A lot of people would probably like to see that mark, right.We're trading down to 54 cents. So, uh, you know, resistance at that closing price. Uh, we usually, when you see a big red bar on something like that, it usually gives you another red bar. So see if we get a date 23 today, resistance at the close at 24 and a quarter, the ones that are reversing and the ones that are in clear options, like a unity software, maybe we can take it to the earnings from last night.We'll bring it to unity first. Um, obviously, um, the stock is trading down this morning. Here was trained down more or last night though. I mean, I did you. Yeah. Yeah, I was on my list. Yeah, it was a good report. So give it, give us the numbers and, and for all you, uh, one of the rings fans, you may be interested in this one cause you don't use a quartering wetter.If you're a Lord of the rings fan, you know what it is, whether it,…

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What's Next For GE? Nov 09, 2021

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TODAY BENZINGA GLOBAL FINTECH AWARDSWatch Here LIVE!Episode Summary:GE splits into 3 companiesRoblox earnings RBLX AMC earnings AMCLidar stocks LAZR EVgo ripping EVGORobinhood data breach HOOD2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Dave LaValle, Global Head of ETFs, Grayscale Investments 33:00Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Oh, my gosh, everybody. Today's one of those days with like 10,000 things happening, there was no way we're going to cover everything that we want to cover on today's show, but that's all right. We're going to get to as much as we can. Let's get this thing startedcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a vowel tile puppy here. Isn't it. And Dennis Dick I've been the penny. I will buy the stock for pet with everything that you need to start your trading day.So, as I was saying a lot to get to on the show, we have earnings, you know, this, we have GE probably our story of the day. We may get to, if we have time, Robin hood wide, our names raping here, uh, Nvidia AMD. There's just so much going on. Let's bring Joel on here. Joel. Good morning. My head is spinning. I can't keep up with the market.Please bring up your shorts for us and let us walk through them. And then we'll bring Dennis on. Did I, did I miss the intro? Oh, okay. Sorry. I missed see a downtown Detroit. Let's see here. What about six handles at 46 88? We made a new all-time closing high yesterday, but we didn't make a new, old time highs that made sure forty six ninety four.I'm going to call that the number for the remainder of the week down five, three quarters handles at 46 88. Crude up 34 cents in 82, 26. She's kind of hanging out here above 80 tills. If we can hold 82, the remainder of the session, gold down to tab, but still above 1800 silver stuck in the 24 handle.That's down about a diamond 24 44 Bitcoin futures up $1,570. 68,000 oh 55, Ethereum. That's up $35 and 75 cents and 48 35 and a half. Ah, we got a big trip. It's triple D ready to come on or he's always ready. How are you doing dad? I, I feel you have. You know, there's, you know, and in the casino and everything, there's an edge, right?You're trying to trade the edge and your edge might be 51%. It might be 52%. Maybe you got a kick ass edge, and it's 60%, you know, it's all about the edge though. You've tried to take the edge, but on any edge, there's a random, you know, on any given trade, there's a little bit of luck involved. It's random, good luck sometimes.And it's random, bad luck sometimes. You know, we know I trade overnight. I often have 50, a hundred positions overnight. Sometimes they don't have that many positions. I didn't trade much last night. So I didn't have very many positions, but I happen to be short one stock. And I want the chat to guess which stores, which stock do you think Dennis was short over nine.I'm already covered so I can freely talk about it, but which stock do you think I was short over? Let's drive for guests is in the chat, drop your guesses in the chat, and you can tell them in a bad mood kind of already. So, you know, I'm probably on the wrong side and if roadblocks will be a bad guest, cause I don't take stocks, he was short into earnings.It's usually going to be random news and yeah, they're getting it now read the news. Random news, financial engineering hit me in the pocket book here this morning. I'll tell you that much because yes, indeed. I was short general electric overnight. Yes, indeed. I have covered general electric already and ate my loss because when you get hit with random news and you're sure to stock overnight, what do you do?You eat the loss and you move on. And that is what I have done here. I came in John, when I came in this morning, actually I didn't get in here till late. It was 6 45 and I bring up my, you know, my I'm bringing up my quotes and bring up everything. And I look at GE and it's up 17 points. Did it get taken over?I'm like what? There was, it wasn't earnings. It wasn't on the calendar. Then I'm looking at the pro and I'm like, ah, splitting up into three companies, a little financial engineering Trek. It was 1 25. When I came in this morning, I ended up getting out at one 19 and a half. So I ended up getting out a little bit better.It's one 17 now. So I guess they should have held on more, but show the pre-market chart of GE. That is an explosion. Um, it was over 1 25. Yeah, I guess 1 25. So when that big purple candle happened there, I got out on that big purple candle and moved on, but wow. That's a, that's a bad luck yesterday. It was short caterpillar and a bunch of infrastructure stocks that wasn't good today.It's geez, it's been a tough week. It's been a tough week. We're saying you need to adjust your trading strategies. Absolutely not. So on any given thing, there's a random of lock. And if you try to start adjusting your strategies because he got a bad two run, but you have a history of the strategies working while for years, you do not adjust those strategies.You continue to do them. Um, if it was like, if it's something else going on, it's different, but you get hit with random news. That's not bad trading. That's bad luck. So there's a big difference between bad trading, bad strategies and bad luck. And once you're in the game for 21 years, you can decipher it pretty quickly.Am I trading bad or am I having bad luck? I actually traded GE fairly well. It's 1 25 and like, well, that's stupid. And then it came in and I saved myself six points. So, you know, only up losing nine or whatever you can say, oh, well, that's just, you know, horrible trade it's bad luck. So in any given thing, you're going to, if you trade.You are going to have some good luck and some bad luck. The key to successful trading around the luck is to maximize your gains when the luck is for you and to minimize your damage when the, when, when it is against you. And that's what you gotta do, that's high, you've got to approach it. You know, you're going to have some good traits too.I mean, I was long Fisker overnight. I I'm long fiscal in the term account, but I was also long overnight. That's some good luck. It's one of my favorites of six and a half percent who my I've already sold that day trading portion, but I've still got my long-term account. I didn't touch it in my long-term account, but I say on any given trade, there's some good luck there.A little bit of good luck. You try to maximize that as much as he can. So the worst thing you can do, and this is what we like talking about is, you know, different strategies. The worst thing you can do is have a strategy that works like for you for the last year. And you have a bad two days with it and you stopped.'cause, you know, what, on any given strategy with the casino close the doors, because somebody came in and hit, you know, on the, you know, and, you know, and, and hit a page, you know, on a slot machine, the slot machine pays out and they lose big time on that slot machine that day. Do they close that slot machine down?No, they keep it running and they know if the players keep playing, eventually that edge will work in their favor. So if you have a statistical edge, you keep employing it. It's like, people will say, oh, I'm having a bad trade. You know, oh, I'm losing too much on the day I stopped trading. I never do that because I'm trading statistical edges.So I keep trading that day. And a lot of days like yesterday, for instance, I started the day down significantly. I ended up scratching yesterday, so I would Claude myself out and scratch myself out of the hole. If I would've stopped trading at seven o'clock in the morning, cause I had a bad overnight trade in caterpillar and a couple infrastructure stocks.I wouldn't have got my money back, but I did get it back. Cause I'm applying statistical edges throughout the. Well, I I'm starting a big hole today because of gee, will I stop trading because of that? Absolutely not. I'm going to continue to employ my statistical edges and maybe starts to dig your way out.Maybe it doesn't. I mean, maybe I'm just going to have a really bad run in my 53, 50 5% edges, the other guy's going to hit the other, person's going to hit and hit and hit, and that can happen. But the worst thing you can do is adjust all your strategies because you had some bad. And I just have to say that you're, you're the best loser on wall street.I mean, I'm looking at that G like wanna shoot G the finger. No, you can come on and talk about it. And, you know, that's just the, yeah. The maturation process of, you know, I mean, you started with me a long time ago, but you've just taken things just like to such a far level to, you know, to be able to do this because your first inclination is man, I'm selling more.Um, I want to sell more and that's the wrong thing to do. You will, you moved on, you covered it, right? Whatever, wherever it ends up today, it ends up today. But you know what? Your mental capital right now, your approach to the market is it's different. Now, if you started that Gian, you'd be like, oh, should one 16.Yeah. You're glued to it. You're right. You're glued to it. And you're like, I can't take my eyes off it. Mom. I'll hope it's going to come all the way back down to flat. You think it's going flat today? Do you think it's going flat today? You think they could do a split the company in three and it's going to come back flat.It's probably highly unlikely. It could market can do anything. I mean, maybe it does. Maybe it comes all the way back down. I look like an idiot for covering it a one 19, but you know, maybe I already look like an idiot for Kevin at one night, but it looked pretty good compared to 1 25. And I'm thinking some financial engineering here, three for one, you know, splitting the company in the three gifts.The news anyways, I don't even know if we gave you the net. Uh, the news is what you said. They're spending split in the company into three. Uh, they're going, it's going to end up being, uh, a renewable energy and power segment. They're going to combine that, spin that off. Uh, the healthcare segment is going to be spun off as well.And what's left is the aviation business, which will be its own separate entity. So aviation healthcare, and renewable energy slash power. Those are your three segments for GE. And it's sort of the, uh, um, I don't know if you, if you want to call it the culmination, but since Larry Cole has been at the helm, what, uh, two to three years now at GE and, and, and they've, he's been deal-making from day one, he's been spinning off assets.They did their reverse, but as you mentioned, um, and, and this is sort of like the culmination of that entire. W what I will say. And, you know, we'll have Kramer c'mon and applaud this in an hour because it's trading up and he just chased this price. Uh, but what I will say, Joel, and I think you're going to agree with me here is they seem desperate to get their stock price, higher splint, like a reverse split that wasn't needed.Like, why were you doing that? Because, and they even said they wanted the stock price. Then, you know, when you split a company at three, the stock prices in the short run going to go higher, does that equal long-term growth? Is that the right thing to do in the longterm? I have no idea in the longterm and nobody knows anything, but they know in the short term, by doing this, the stock price is going to go higher.So I guess, you know, I already thought management supposed to be concerned with running the business and the stock price will look after itself. But in this case, I feel like GE over the last couple of moves they've made are more concerned about their stock price than running their business. So I want nothing to do with this long-term um, you know, but I know when he's put a company into three, it's gonna pop up and they can trade anything.So, you know, it's looking good on the charts. It's breaking out on the charts. You can see that technically here, you don't want to be short stocks, making new highs on the move. And she absolutely is doing that breaking out here this morning. It wasn't before yesterday. It certainly isn't. So, but I just think they're desperate to get the stock price higher.I think they need to stop worrying about the stock price and stop worrying about financial engineering and start running the businesses better. That's what I'd want to see if it went down for 20 years. Well, and maybe that's thing to do, maybe it is, I don't know, they've done everything wrong. It used to be a Honeywell and GE and Honeywell showed you what, you know, how to run a business.And obviously, you know, at one point in time, GE was buying out Honeywell and then that trust and she is went straight down ever since the Honeywell's went straight up ever since. So they've just done a lot of things wrong over the years. I, I was a GE shareholder for a long time. You were a two inches.Where'd you G w I wouldn't say a long time, but I think I was seven or eight years in G and it was one of the worst, worst stocks. I was in it from like, probably like 2002 till maybe like 10 or 12 years. And it was just a perennial under-performer. I think I actually ended up losing money over the course of 10 or 12 years.I remember justify and say, well, I got 3% dividend every year and I've held it for 10 years. So I lost a little bit, so I actually was still getting paid, but really that was just a whore done, a horrible stock for 20 years. I don't know if this three for one split or splitting up into three companies, turns it around.Uh, I'll just make a couple of comments. Uh, technically, um, I don't think you're getting back over 1 26, but anything can happen. Uh, 1 26 40 is your pre-market high. If I had to stop long, I'd just be laying out, offers all the way up, bigger size, the higher you go, even 1 24, it looks like a good number. If you're looking for.This is just 15 minutes support doesn't mean anything, one 15, uh, it's all done the last couple of brackets. And then Dennis, the one thing that is a positive is they didn't split it into six parts. I never seen all these companies and maybe they're all, I mean at and T did that remember a number of years ago, split it up.And I got, I have as long at T and T and I got three companies out of it and a big, special dividend and it seemed all good. And we got at and T wireless and we got something else. Dennis, I'll tell you, you gotta loosen. You gotta vine. I know we got a hol…

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How To Trade The Infrastructure Bill Nov 08, 2021

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BENZINGA GLOBAL FINTECH AWARDSRegister Here Now for November 9 2021Episode Summary:Dont be short infrastructure stocksWill Elon Musk sell 10% of his Tesla stake?Cannabis stocks rip higher2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Tim Quast, Founder/CEO, ModernIR and Market Structure Edge 36:00Twitter: https://twitter.com/_timquast Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Good morning, everybody happy Monday. Hope you all had a great productive, relaxing, enjoyable weekend. Mine was stressful, but that's okay. We are back in the saddle. It's Monday morning. Let's get this show on the roadcoming to you live from downtown Detroit. This has been zingers pre-market prep with your host Joel Kahn. And this is a vowel tile puppy here. Isn't it. And Dennis Dick I've been the petty. I will buy the stock per pen. Everything that you need to start your trading daygood morning. Good morning. Good morning. As I said, welcome to pre-market a prep, Spencer Israel, there's joy, Alcon, and Dennis, Nick is here as well, lurking in the background. And as he's wanting to do, he'll be on in just a second. We got a lot to discuss, and then we'll recap what happened on Friday over the weekend.Last night, this morning, we got to talk about the infrastructure. Bill is probably going to be the story of the day, how to trade that. Yes, we will also talk about Tesla. Elon Musk is acting strange on Twitter again. So we have to thought about that. That's the law. We will take questions from our chat. We will take questions from Tim Quast or we will ask them questions at 8 35.He is from market structure edge, also the sponsor of today's show. So we got a lot to get to Joel. Good morning. I see your charts. We'll get it up on the screen. How was your. Ah, very good. Welcome in everyone. This Monday version of pre-market prep, 8:02 AM and the spoos are our grain. We're up to 75 and 46 93.I tried to test the low from Friday off the open, but caught a bed. Uh, our number focused number of the day 90 and a quarter. That's our all-time closing high. We've had seven higher highs, seven higher lows and seven old time. Closing highs is what a remarkable feat. Let's hope that continues today. Our crude is in the green by 60 cents and 81 87 to start recovering from that dip under 80 gold clear as 1800 up to 80 at 18 19 70 silver.It's going the same way. That's up 18 cents, a 24 34 Bitcoin catches a bid. Let's see, not a new all-time high yet on the rolling futures, but rock almost 5,100 bucks is 66,500 and Ethereum futures. They're up $276 and 75 cents and 48 0 7 triple D. Uh, when are you coming over for lunch? Like when are you coming to visit.And M and a, the borders are open. You tell me the borders are open. Orders are open. And I mentioned on that pre pre-market show with Emily, I had a gig of a photograph of someone that hasn't seen their husband in two years, keigo, Harvard. She was supposed to be there at 1:00 AM and the person got there at 3:00 AM or three 30.So I imagined that border man and the person just fly over because I've got a, one of my good friends, my own, and my good friends got married during COVID. You can fly over the border. So, I mean, it's not like you can't to see your husband. They just got to fly and not drive over the borders. I don't think no, I don't think so.A hundred percent, my buddy flies over every three weeks to see his wife. Yeah, he got married during COVID. You can fly over. I have another friend who, same thing it's wrong. Like, I mean, you can like, obviously you can't drive over the borders, but you've been able to fly over the borders for a long time.So it's no problems to fly over the borders to see your wife, but you cannot drive over the borders. So I don't know, maybe it wasn't excused by that person, but. So that, that was the goal. That was the work around in the last year. You could fly. So if I want to go out for lunch with you, Joel, I could have flew, literally gone in the Windsor, you know, airplane flown straight up into the sky.Maybe landed, try. I don't know if they have one of those or not, but to go the five miles across the border, but yeah, you could fly across. What's the nearest airport for you now? Toronto? Yeah, the bay major Toronto. Alright, so what do you got going on here? Weak, weak, overnight rocked. Don't be short infrastructure stocks.That's the tip of the day, huh? So today you don't want to be on the wrong side of the infrastructure trade. I am on the wrong side of the infrastructure tray, but that's what my overnight portfolio. So, you know, you'll work out of that stuff. Sometimes it works out. Sometimes it doesn't, that's a little bit of the name of the game on any given day.It's a lot of luck involved in trading. So we have a bill, it looks like it was passed late Friday. I don't believe it's been actually signed by the president yet, but that's, that's frankly a formality at this point. So we're going to get $1.2 trillion injected eventually into all sorts of things. And here is what is in place so far today.Steel we'll start with steel stocks, right? Take her ex ticker, C L F you know them by now new core steel is in play today. Uh, there's a lot of money going towards just broad. Um, I'm not sure what you would call it. Just broad base, just roads and bridges and things like that. Upgrading, upgrading all that right.Transportation infrastructure. Um, Evie stocks are in play today. Forget what's going on with Tesla, but Evie stocks are going gonna play today. There is a bad seven and a half billion dollars in the, uh, in the bill, uh, allocated for, uh, electrifying school buses, uh, and creating, or actually there's another center that building for EVs charging stations.So ticker is Evie geo ticker, C H T actually. EVG L also had another headline today. So it's up for two reasons, but, uh, EVs stocks, charging stations in play today. Um, what else do we have? We have a broadband broadband upgrade. So internet infrastructure is in play today. Um, you've got transit and rail. So rail railroads in play today, basically every infrastructure, right?Stock is in play today because buy in play meaning where it's strong today. Not because sometimes they say in play, meaning takeover, not takeover, not takeover, but yeah. So strong, very strong. So you can see Evie go right. There is probably your strongest, but there you go. I mean, there's so many stocks.It's like rotation station here, and there's a lot of stocks. I mean, that's the PZ luck in their flat. Well, Tesla's not helping that, which we'll get to in a few minutes, but you know, there's a number of stocks that are actually trading lower here today. Some of your tech stocks are actually not participating here at the bank, mega tech.Uh, but some of the smaller ones are not, but then you come in the lock and you're like, okay, well, what's really the driver here today. What is moving up here today? And it is all those infrastructure stocks that Spencer just mentioned. I mean, you've got U us steel X trading up four and a half percent. We got a new core.I still have new Chrome, my longterm portfolio up 4.4%. CLF I did not rebuy it. I was hoping to get 22. I might've missed it. I actually got there twice. I should elect 22 0 9 22 0 9. Even some of the show, it gets down to like 22. I'm going to buy it. It would have been the buy. Now it's up at 2350. So I want to re get my Cleveland cliffs.I'm not sure I'm chasing it up 5% here today, but then he can go into the construction stocks. He'd go to like bulk and materials VMC it's up 13.7%. It's a huge move for Vulcan Martin Marietta MLMs up 25 points here this morning. You're seeing, you know, uria is another one, obviously equipment rental up 20 points here this morning.So this is a massive. Massive moves off this and John Deere, John Deere, John, Deere's getting a lift here. I mean, obviously the cat's getting a lift here, full sculpture. I got an overnight position in caterpillar. Um, there's just a ton of stocks that are, you know, getting a lift here, uh, from the infrastructure bill.So I don't know. So what do you do? You're on your stocks here? Is this a ring, the register opportunity or is this, um, you know, a chase and they're going to go higher type of trade? I I'm, I'm not sure. I mean, it's a big, big, overnight move. And if I, and I, I never chase, you know, that I don't chase stocks, so if I'm not in it, I missed it.I missed it. But now I would be looking at maybe some of these stocks on pullbacks maybe to get in, but if you're in them and you all of a sudden get a seven, 8%, you know, in the case of like, uh, VMC trading up 7% and the pre-market like, this is a huge. Move for a stock, like, think about this move in the last month, it's moved 25 bucks, but I mean, really this thing's been stuck in a trading range.These aren't stocks that typically go up 7% overnight and boom, you've got Vulcan materials up 7% here overnight. Is it a ring, the registrar opportunity, but then you got a stock that's making a new high. So I don't like to sell stocks, making new highs, cause new highs, but get newer highs. So I think you're buying pullbacks as opposed to, you know, just, you know, selling it short here and I don't short rocket ship, so I probably wouldn't be doing that at all.I dunno. How are you playing at Joe? And you got to look it on a case by case basis and you can't. I mean, if you have a target, you know, involved in metals, they dot 2 0 9 89. Maybe take half off, you know, and see how it reacts off the open it's up almost $14 on 4,000. I mean, this is a company that missed earnings last week.Not a kid, not joking. They missed earnings last week, VMC on Thursday, they reported a buck, 54 bucks, 66, a stock traded down on that report and then they turned it around and they kind of turned it around the next day to rip roar and rally, not thing to do with the individual companies fund, but didn't do what the infrastructure bell.So people speculating obvious. It's gonna be a lot more construction going on here. Now that we've got this infrastructure bill finally passed, but as a, too much too fast, For this one with, uh, you know, the green, you know, it ended up to be a green candle on Thursday and then, you know, Friday and make that new all-time high.And then you back off, you know, you're up 14 bucks for this one. I'd be a little bit more inclined, you know, to perhaps during the register, if you got caught in that, in that, uh, in that onslaught on Fridays. So, uh, acts is acts, you know, it, it's a good level sock and it will go find his level right now.I'd be thinking, can this get to 20? Right. It failed at 27, a few days ago, twice. Now that 27 is going to be support and there's just like two, three highs in the upper 28 handle. Uh, what are the other heavily, uh, Cleveland cliffs coming off that low? That's been the lagger to the group. Yeah. 20. And see, I'd be more inclined to wait, you know, to come back into 23, he had three tops in the 23 area.Maybe get some profit taking and come back down to 23, nothing on the dailies until 24, 36. That's a five day high that. So thinking about it here, if you look at all these charts on the daily or the weekly, rather than even the monthly, right? And like every time, every time they, they were out of favor, it was always related to the bills, hung up.It's stocks not going to get through. Well, now we actually got the EV every pop was on the speculation. That we could get a bill and every drop was on. Oh, we're stuck through the, stuck in the pipes again. Um, the other word I did see I'm on Dennis side on this one. It just seems like it's past, it's not past this past.It's not past, you know it, right. I mean, it's this already been, you know, as it's been baked in the market, obviously not because these stocks are getting, uh, a good reaction. The only thing I'll do that, that will kind of the only potential negative here. We're really not going to find out on Tuesday cause it's going to take a while, but we got, got October PPI on Tuesday and CPI on Wednesday.So throwing all this money into the economy, if you guys are worried about inflation, which a lot of people are, this is definitely going to have an inflationary effect that. A little bit of an overreaction on some of these stocks. So to just give them, you know, six, 7% overnight, even on the steel stocks, which I'm long, a couple of them, obviously, I feel like it's a bit of an overreaction.Do they even URI? I mean, it's up 20 points sped up 22 points here right now. Holy, this is a huge move for a stock. That's moved 20 points. Like, I mean, it was stuck in a range of 20 point range for two and a half months. Now you get like 20 points overnight. I think it's a windfall. I think if you're long, I think you're still, when you get these ridiculous pops on, on the news like this, I think it is a ring, the register opportunity and maybe get back in and scalp your way back in.But I guess it depends on your timeframe. It depends why you're in the stock. You know, it depends, you know, on a short term trader swing trader longterm trader your short term trader swing trader again, these five, six, 7% pops. I think you take the gains, you have a longterm investor in them, you know, like I am a new core.You probably just holding on, you know, I still think there's Lino a path of least resistance on a lot of these stocks is probably still higher and just a general rule of thumb, you know, do you get filed through, through the pre-market high? Do you hold the pre-market high? Do you have a big candle after the open where, you know, you take out that pre-market high and you come back down through it also, you know, are there any levels there with, you know, some of these stocks are just in no man's land, right?So, and you can't say, oh, this is the former old time, high or old time closing. I, I think you just gotta look at your pre-market highs. See if he can get the file through and then play the court. So in also thinking about is, you know, a lot of these charts look different, right? Like Martin Marietta looks way different for sure than, uh, Cleveland cliffs or bad example.Um, what kind of does us steel, right. Or us deal, right. Or, or caterpillar, right. Or a caterpillar. That's a better example. So when you say, oh yeah. Is it priced in, is it coming too far? Maybe on a MLM maybe. Sure. Right. But on a caterpillar now, probably not. And remember, one thing to consider overall here is, you know, okay, we get an infrastructure bill and that's going to help you with government spending public spending.But what about the private industry here? The private industry is still looking. I've got a…

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Peloton Stock Gets DESTROYED On Earnings Nov 05, 2021

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Episode Summary:Pfizer has a COVID-19 pill; PFEPelton gets destroyed on earnings; PTONAnalyzing the October jobs report2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comGuests:Jeff Warshaw, CEO, Virtuoso Acquisition Corp (VOSO) 36:00Virtuoso Acquisition is merging with connected car company Wejo.Meet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:All right. As I said, we got a big show today. We got a lot of earnings to discuss. Don't forget. We have a jobs number at eight 30, Dennis and Joel may or may not have forgotten that fact until I reminded them. So we got jobs number. We got earnings, new guests on the show today. Jeff Warshaw, actually, this is exciting.This might be our very first SPAC game. On pre-market prep. He's a CEO of virtuoso acquisition. They are merging or acquiring. We Joe, we're talking connected cars with Jeff Warshaw at 8 35. Let's bring Joel on here. Joel. Good morning. How we doing? And, uh, when you came home and get those charts up, we will start rolling here.Good morning, everyone in chat. How you doing? Dennis is here as well as lurking in the background. We'll get him on in a second as well. And, um, I guess we'll just start with the church, Joe. What's up. It's a it's no, no tangent. Okay. Okay. We're going to follow the script. Accordingly. As peas are up 10 handles a 73 and a quarter.That was our time closing high. Uh, we spent a little time below that at 67 50. So, uh, here's your potential downside target. If we do go down on the upside 87 50 is the high nothing up there because we've never been there before a crude rebounding from yesterday, shellacking that's up 89 cents. It's 79, 72 gold.Once again, flirting with 1800 up a buck 70 at 17 95, 20 silver. I was just down a penny 2390 Bitcoin hanging. It's still in the 60,000 handle. Wow. Four lows in the same area. Let's keep an eye on 61. K that's up $85 61,445 and theory S down, just a smidge. That's down $13 and 25 cents. These are the futures at 45 0 2 and a quarter.All right. So we've got a busy day. Dennis also is dealing with some sick kids, so he may be in and out, but he is here. I promise. Uh, and when he comes back, we'll we'll, we'll bring him on here. So, Joel, oh man. I don't even know where to start here. We can start, let's start with what I think is the news of the day, which has probably this Pfizer has gotta be, it's gotta be reminder that we got the, uh, news, like it wasn't like a month ago now from Merck.Merck has that COVID pale that they said, if you take it within a couple of days of having symptoms, you can reduce your hospitalization by 50%. That was. 50% of from Merck this morning, Pfizer came out and said, yeah, we have a pill too. In our pill reduces hospitalization by 89%. Um, they did a study and of these 600 trial participants, uh, who received, uh, the pill, um, in combination.Yeah. Who, who basically who received the pill within five days of symptoms? All of those 607 people. Wow. 41 of them. I'm sorry. Six of them went to the hospital. Nobody did. Oh, the 607. So a a big, uh, a big number here, a big, a big drug coming out today here for, uh, Pfizer. They say they intend to submit for approval as soon as possible.Uh, this is a, I'm gonna not put for this. This is a protease inhibitor. It's actually a drug that was used for it, for HIV treatment, or as I've been reading in the last hour or so. Uh, and Pfizer though, Joel blasting often taken off. Um, yeah, uh, it's uh, it's antiviral women's I guess. And the HIV meds. I mean, we talked before about like the Tamba flu of, uh, of COVID and, uh, that's what they came up with.Uh, the news came out good for the market. Good for Pfizer. And this thing has been volatile lately. Really moving off earnings gave it back the last couple of days. I'll give you that pre-market high. I think that would be a nice juicy target on the upside that comes in at 49 for. I believe was to pre-market high and that's a big move for Pfizer, but it's trading a lot of volume it's holding up.So back near all time highs, actually that all time highs 49 60, there's gotta be some papers stacked at 50, right? Because you had a high at 50 0 5 on August 24th. So I don't know what's been happening with these stocks is they'd get in the pops and they've had a whole hard time holding the games.Pfizer up five bucks is just an unbelievable history. Doesn't repeat itself, but it sometimes rhymes and it rhymes big time here. We saw all of these stocks, Regeneron, Madonna, Novavax get murked back at the end of September today, they're getting Pfizer. It is the exact same headline, the exact same thing, different company.And we're seeing the exact same results that we saw after they got. And Regeneron down 50 points on this Pfizer news, we got Madonna down 25 points on this Pfizer news. We had no evacs, which was trading significantly higher on its earnings report. From last night trading now reversing everything. Joel, we were up into the one nineties we're reversing massively.We are over 25 points off the after hours high. Now down 14 from the close. Um, this is an amazing, this is good. Obviously these pills get for us. Good for people. Get for the world and not so good if you have other therapies for COVID or if you're making vaccines. So we're seeing the vaccine makers getting hammered, even poor B NTX, which was teamed up with Pfizer on the last one.That's makes complete sense. Cause they're not teamed up on this one. So obviously, you know, they got the vaccine, but Pfizer is doing its own thing on the drug. So be in TX getting smacked hard here, uh, down 8% on this news as well, Pfizer up 11%. The the, the, the play was to sell into this strength and Merck.And it worked, I would say the same thing. I own Pfizer in the long-term account. I would say this is a windfall. And if you're long, it overnight, it's a gift. And I think you're going to struggle to get over 50. So I don't think we're going 50 to 55, 60 and blasting off because we have complete precedence here.I actually completely talking against my buck. I think I'm the only person that does it on the street. Joel does it too with Peloton, which we'll get to in a second. But, uh, Pfizer here up five is a big move for this. When we saw Merck getting that lift, it was short-lived. It eventually did come back and move, make new new hires, but you can see even Merck getting hit because they have the competing drug.So moral of the story is with the drug stocks. It gotta sell your peanuts while the circus is in town, because these things do not stay hot. They don't seem to stay hot at all. Regeneron I'll give myself the pat on the back because I sold my Regeneron and I obviously, you know, talked about it, you know?Two two days ago on the show saying, I think this has come too far too fast, and I'm going to get a chance to get it back cheaper. Well, lo and behold, you're getting that chance today. Well, I reload Regeneron. I may, I may actually reload it. If we get down to the five 80 area, that's probably be a better buy than obviously, um, you know, my six 30 or six 40 original purchase.So sometimes, you know, when you make a bad purchase market gives you your money back. Sometimes you got to sell it and then reload at a lower price. So I'll pat myself on the back on Regeneron and I'll kick myself in the ass for Pam. Okay. The question though, do you do that at the same time? How does that work?I don't know how that works. It's hard to do that in the past, but that's pretty good. The kick in the ass, like kicking myself in the bot. It's not as easy, especially when I'm sitting on chair. I'm just trying to figure out how that would work. I'm not quite able. And it was a success story of this market.It's big winners and big losers every single day. It's the market with no memory for one thing. I mean, they loved merch yesterday. Oh, Merck. We love Merrick making them now. We hate it. Pfizer competitor. I didn't see that one coming holy this market with no memory and merch down 9% on this as a buying opportunity.I'm long Merck and okay. Yesterday was a selling opportunity. Today is a buying opportunity. Just like that. Boom, eight points off merch, low eighties. Yes. It's got the competing drug, you know, maybe they continue to smack these things around because this is the market where the weak get weaker and the strongest drug, or at least for a few days.But I think you've got a buying opportunity in Merck and Regeneron. Um, I probably will reload my Regeneron at some point in time, I'm going to try to catch the falling knife, which is exactly what you're doing when the stocks are in free fall here in the pre-market. Um, I've been hurt a lot of times like that.Sometimes I still do it cause I can't help myself, but the, the play is probably let the dust settle and then wait till it stops going down. Yeah. I mean, if you feel like the five 80, I see, you know, there's a love, that's where it really, I mean, it, it had momentum going and then it got over that five 80 and blasted and filled the gaps.So it, uh, gave it back. We'll see, five 80 the seat, let the dust settle on this one. Uh, you know, who knows if they pull out something that's 95%, you know, efficient. So overall good. There's another one coming next week. Joel, probably when you get that, we'll all here on fi I mean, Joel, let's just talk Pfizer for a second here.How many times despise or go up 11% on a drug. Pfizer has new drugs. This is this, isn't a small little company. This is one of the biggest cars in the world. Biser gets a positive trial on a drug. If it's not, obviously in some cases, you know, not Pfizer, but you know, Alzheimer's or something, but on normal drugs, they pop like 1%, 2%, 11% come on.This is circus is like the elephants are, you know, sticking the balls in the air here, you know, like back there, there, there, there, what do you call them? Their legs on the back of the other ones. And they're their toilet and a bar around. I almost want to sell my long-term Pfizer just to rebuy it. But the problem is I don't want to pay the tax.I'm going from $13. And I don't want to realize a huge capital gain by, you know, maybe the idea would be to buy some putts or. I don't, I don't know, Dennis looking at it talking, can I interest you in another, in several other companies that are also that also have protease inhibitor technology? Sure.Drugs. Cause that's, that's the underlying technology here for the drug, right? Uh, AbbVie has a protease inhibitor, um, GlaxoSmithKline, GSK. And they actually, if you look at this morning, I know they're on down now, but they weren't down a half hour ago and GSK are down at all. And that's for the simple reason is that they don't have COVID trucks.Well, not, not yet is what I'm saying. So that's good. They could get fi so Pfizer has the potentials. What you're saying to get Glaxo's like in a few weeks, blacks has got Pfizer and Pfizer is going to be a trend here and the moves are going to be less. They won't keep slamming on. I think the move is over, down on.So I'm going to say this. I think the moves are over done on all of these stocks today. All right. I think the Pfizer shouldn't be up to as much. I think the merchant me down as much. I think the Regeneron shouldn't be down this much. We already hit all this stuff on and I ain't getting the second shot, so, okay.Wait, also, uh, uh, GSK mentioned Bristol Meyer was throwing Bristol Meyer, GSK AbbVie. Those are the three companies and inhibitor drugs working on pills. COVID pills don't know. I didn't know. Pfizer was working on a COVID pill. I don't think. They hide this stuff? Um, no, I don't know if those companies have trials or no, I don't know.I'm just saying they have the same technology that the Pfizer drug, they have drugs that are approved that do kind of the same thing as what the, you know, uh, the underlying thing as well as what the Pfizer drug does. So, uh, very interesting. It's the market of wicked moves. This is the market of wicked individual moves the spy.They're like, oh, it just grinds higher, kind of boring. It's under you lift up, you know, and look under the hood. There is wicked moves all over the place. Every single day today in the drug sector, wicked moves all over the place. You can look, there's a company that's going to report. It's going to be up 20%.That'd be another company while I can't buy them all. Cause buyer doesn't want to go anywhere. So they've got to sell something else off 20%. Yesterday's victim was UPenn today's victim. Victim's going to be palliative. So, I mean, this market is just the market of wicked moves right now. Wicked, wicked.Yeah. We can go to that panel time here. And, uh, this was a tough one. So remember that they had previously lower their guidance and lowered their pricing back in August as a tell and well, in hindsight 2020, yes, it was a towel. So here's what the numbers were from Peloton yesterday, the Q1 earnings per share, they lost a dollar 25 cents per share street with looking for a loss of a buck oh seven.So they missed more than expected sales, 805 versus $810 million small base. But that's not what we care about. We care more about the forward looking stuff. The guidance, the Q2 sales guidance came in below estimates. The fiscal year of sales guidance came in below estimates, uh, in terms of subscriber growth.This was the first time, the first quarter that their subscriber growth did not grow at least 10%. Um, I think maybe ever, uh, there are a subscriber growth had previously increased, uh, 20, at least 20%, every single quarter for the last, like, I don't know, like eight quarters and their subscriber growth only increased 10% in the most recent quarter.Um, they did say that they are well positioned for the holiday season. They have a lot of inventory, maybe that's because they're not selling anything. Um, but yes, it was a, it was a really tough report for, for Peloton. And this is, this is going to be, that's going to be a doozy. I mean, you got to start asking your question now to Peloton and I can ask it to Joel and we could ask you who could then ask it to Lisa.I mean, is this not the possibility to give back the entire COVID run and okay. Go ahead. Change my rating on the stock. Okay. It's two S M T C shaking. My now send me the certificate. Send me the certificates. You think that's going to zero out on CNBC there's Grasso that said that last night on CNBC. I don't think that is the case.Yeah. I still own it. I've tried so many times to do this and it's his wife stock. So she could take the credit for some of the good ones and she could take some of the credit for the bad ones. I, I we…

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Stocks Making HUGE Moves Today Nov 04, 2021

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Moderna, Roku, Wayfair, EA, Take-Two, Skillz
Reacting to the Federal Reserve slowing down its bond buying program
Moderna, Roku, Wayfair down on earnings this morning
Disney vs Netflix
Merck Pill

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Bluford Putnam, Managing Director and Chief Economist, CME Group 37:00

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We Are Living In A Casino Nov 03, 2021

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Episode Summary:Avis stock becomes a flying car: CARZillow shuts down its iBuyer program: Z, ZGActivision-Blizzard delays more games: ATVI2 week free trial no credit card required - https://pro.benzinga.com/Email onboarding@benzinga.comMeet The Hosts:Dennis DickTwitter:https://twitter.com/TripleDTraderSpencer IsraelTwitter: https://twitter.com/sjisraelJoel ElconinTwitter: https://twitter.com/Spushttps://www.premarketprep.com/Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.Subscribe to all Benzinga Podcasts at https://www.benzinga.com/podcastsUnedited Transcript:Good morning, everybody happy Wednesday. We got a lot going on today. We got some stocks that are up. A lot of stocks that are down. I have a fancy new camera. We're on so many new things happening. I'll tell you all about it Good morning. We're going to be talking, uh, Avis obviously, right? That was insane. Yesterday. We're going to talk about bed bath. We're going to talk about Zillow out Activision. Ouch. Um, we will take questions from our chat, uh, later on, on the show, but we got it. We got a lot of Tiggers to discuss. Let's get right to it.Also, we have a fed meeting don't forget today. 2:00 PM Eastern time, FMC announcement, 2:30 PM, uh, FMC or a fed press conference with drone Powell. Uh, so that is of course on our radar here today, but, uh, let's get to that. What else? Oh, wait, you have an announcement. Yeah. But go ahead and go through your stuff.Am I missing something? I feel like, yeah. I thought it was going to be up on the screen to special announcements on today's show. Yeah, I'm putting it up right now to special announcements. We have special announcements. What are the announcements? Well, no, let's let's well, let's first go. The S and P 500 futures.They're traded down three points at 46, 20 and a half. Uh, all-time closing high that was made yesterday at 2350. So that's our bogey on the upside, uh, crudes in the red by two box, holy macro at an 81 90, which is inside day. We've found out which way he wanted to go from the inside day. A gold down 360 at 17 85, 80 silver up 11 cents.Let's call it 12 cents at 2363 Bitcoin hanging out near the high, but down $525. It's 63,409. Boom. And Ethereum making a new, all time high. That's the future's about 59 and a quarter at 46, 10. Uh, do we have triple D I triple D in house? Cause he knows about, okay. Shirt on. I'm ready for the and 17 season.I went to the pisses game last night and they could, they could use me out there. Okay. First special announcement. All right. The moment you've all been waiting for. I'm waiting the third and final event from pre-market prep. Won't be final. Finally, the year end of the year, order execution, December 11th.That's a Saturday order execution, maximizing your profits and reducing slippage. We're going to go into detail on order flow, how to read and interpret the consolidated tape. Dennis is going to explain how the off exchange market makers make money off your order and how they use limit orders for protection and then necessary trading adjustments.So you'd need to help level the playing field. Understanding interpreting the order book would help identify key levels and turning points and price actions. We're going to go over all kinds of order types. And then we are going to talk about profiting from any efficiencies off the open and the closed December 11th.That's the first announcement. Big, big agenda there. Second announcement is I am starting a new segment on pre-market prep plus. Starting today. Well, actually it started last week, but this is the second week of it. I'm going to advertise it yet. It's called Wednesdays with Wedbush. I'm going to have a different Wedbush analyst on every Wednesday from 9 0 5 to nine 15, and today it will be SOC Manuelian.He has had an equity trading at Wedbush securities. He sent me a note what he's going to talk about, and it's amazing information. So what you need to do is you need to go to pre-market prep.com. You need to subscribe to the channel and you need to see this interview along with getting my levels and stocks in the final thing.The final thing is that if you go to the pre-market pratt.com channel and you subscribe, you are going to be eligible to attend the event on December 11th for free. And not only that, you're going to get a vet number one and event number two. Oh for free, if you subscribers. Yeah, but not everybody's getting the event for free all one person, the YouTube subscribe to win the event for free.Yup. Yup. I'll get a windy lots going on. Yeah. Lots going on December 11th in websites with what Bush. I want to see everybody there at 9:00 AM. All right. Triple D quiet pre-market session. Let's go. Let's go. Let's just start with the. Let's go to the agenda. Let's recall the agenda item down. You knew we had to leave the show with this.You, you knew that, right? Avis, obviously every single week we're saying to ourselves, this is the craziest thing we've ever seen or received in the last couple of years. This was insanity. Uh, how high do we end up getting? We got a $545 and 11 cents. And Ava's yesterday, Dennis. I know you're watching this, Joe.I know you're watching this. What were you thinking when this was going on yesterday morning? In real time, take us inside. Wow. Well, I will, I actually was tweeting in real time as it was going on. So if you follow my Twitter verse, you can actually know what I was thinking the whole time. And when it was trading up there, I was like, sell your peanuts while the circus is in town.I tweeted that around three 80, came back down to three 15 and then went to five, whatever, 5 45. But what do you do when you're along a stock? And it explodes by 200% intraday. Yeah, ring the register and you sell it. And I think the car party is over. Um, this is unbelievable move. It was somewhat justified that we had to not move.We talked about it on the pre-market prep show. I cannot believe it only opened up three points. That's what I can't believe, because that was a really good report. We talked about the report being just how amazing it was. I did not for the life of me think that the stock could take off and go up 200% after we talked about it.Um, but it was a great report. It was a great report. Um, but it just got silly. The algos are incredible in this market. They grab a hold of that momentum and they just run and they run and they run and there was, was algorithmic driven, a lot of it, but it was also driven by retail frenzy. But again, the one thing you can never call the top on these things, but when your stock starts exploding and just goes into lunatic mode, which is exactly what it is.Um, I think you got to ring the register. So whether you got three 50 or four 50 or five 40, somebody got five 40. Congratulations. It's a great trade. I think you move on. I do believe, you know, in the two hundreds, there was some value for car because they're firing on all cylinders right now, but this is just craziness.That move was insane. Some of the options, I don't know if you saw this, but some whoever owned, like the two 60 options, uh, what were they going for? Uh, well, you could have sold them for like, I think if I saw, what did you buy them for? We know we could have sold them for like hundreds of dollars. Cause it's talking about the 5 45, but what was it going?Oh gosh, I probably next to nothing. I think it was like, yeah, I, it was, it was, they were cheap there. They were, I would imagine they were significantly like, just looking at where the stock was. Like, if you're buying even the 200 calls or 2 25, I would imagine they're going significantly under it. Yeah, you're talking about a hundred bagger, a hundred, not a 10 by a hundred bagger.So yeah. Incredible move 40 cents. We're actually getting 40 cents. Yeah. Yeah. Just, just incredible here, the move and car, obviously it was an awesome report. This market is just prone to this. We see this and we saw it with bed bath and beyond last night. We'll talk about that. We're going to bring that up sooner than the agenda because it's tied in.Uh, but what are your thoughts here on Kargil I've given my thoughts. I think the high is in, I think the all-time high for a long, long time. We'll stand at 5 45. Well, you never know. I mean, it could go into lunatic mode again. Joel, wait, before you start, I want you to, can you just like take, I'm going to take your shards down.Can you just put them back up for me? Cause for it, because we're on this new platform, we're working through things and I want to, I want you to reshare it. Cause the charts were a little bit blurry and I, I don't know why. So I want to get the blurry. I see, I see the blue blurriness, two guys. We're we're going to get, uh, let's find outthe HD. It's the HD button you got. Oh, we're better now. We're better. Yes. I don't know what just happened, but now we're better. So. Yeah, look at you. Uh, well, first things, you know, you talk about this things and how much money you can make. Right? A tiny pie media says, did you see anyone on wall street bad's posts where a guy lost his entire life savings and then some will try and to short car lost 169 K.So, yeah. And what you can believe on wall street. That's what we don't know. People could post anything on there. And I think a lot of people do post anything, but I will tell you right now that some shorts that lost 169 K for sure. This is a concern like overall. Um, there there's some market structure issues here, obviously to, you know, that we've got halts, you know, we've talked about, you know, the halts coming in and then everybody knows it's halted and then everybody's flocking to it.And where are they supposed to calm the market down? I think it actually does the opposite effect. Sometimes I think the algos get in there and start driving it. Um, once these things hit the limit up limit down, down halts, and obviously this was limit up, limit up, limit up. Then it was limit down. Then it was limit up.It's very disruptive to the natural trading of it. It's also, I think there's algorithm mountain Memorial momentum, algos that use those for indicators when the thing halts the first time. And then they jump in and like really run it. So, I mean, there's a number of market structure issues here. The lack of liquidity, probably the number one.When these search things they're going parabolic. Obviously we had a short squeeze. Anybody who was short, this thing was just basically SAS donated. Um, you, you see, you can see accounts blow out with this. It's scary when stocks do this, not everybody thinks so why? I wish I was in there, but I mean, this stuff can happen on the downside too.I mean, we can go to Zillow in a minute too. It's not like too extreme. They're growing it down to zero, but there are so many market structure issues in here that I don't know if we want to jump into right now, but you know, the lack of liquidity is probably the number. Um, okay. Um, I have levels on this. I am still working on them and I will reveal my levels on car ad dot nine 20 on pre-market prep.Plus, I'm not going to have any one of those right now, Dennis. I was telling Joel, if you, you know, you have some resistance up here, if you go back twenty-five years. Yeah. I don't my chart. Doesn't go back that farin 1998, we got to four 16 and 19. Now I'm not digging through that. I would not have known that. Yeah. Yay. Congrats to that, to that person, because it's going to be based on yesterday's price. All right. Fair enough thing. When these things start to happen like this, it's the lack of people shorting the stock that really allows these things to go parabolic.And what does that mean? It means there's no professional. There's very few professional traders that are going to be willing to short that stock to keep the prices. For the simple reason is that they don't want to lose 169,000 or way more millions of dollars in some cases. So the shorts that were in there getting squeezed and the new shorts are like, I'm not sure in that thing, cause I don't want to get murdered.So, you know, contrary to popular opinion where everybody thinks, you know, um, you know, stocks going straight up, let's short. It that's the way you really blow out your account. Don't show it stocks breaking out to new 52 week highs. Don't short stocks making new all-time highs. Don't short stocks that are chipped up in limit up circuit breaker.It's hard to control the risk and people learn that the hard way thinking, wow, I went to 200. How far can it go? You lost 150 or 200% in a matter of 10 minutes, 15 minutes. So it can get really ugly and the things going parabolic mode, I definitely. I don't want to be short those stocks and I'm not looking to initiate new shorts because like I was even saying to my wife, I showed her the charges.Oh, short that thing. That's the natural human tents trader. That's a natural human tendency saying, well, that isn't going to last, I'm going to short it. Okay. Well, you did that. It was stupid at two 50, then it got to 303 50 and 400 and 500. And that is, you know, how you really get hurt. So when you can't control the risk, you can't be just jumping in there and even buying and chasing up at 3 5400.You can't control the risks there either, because the thing turns around in 10 seconds goes limit down. Now you're down and it went, had one move. We went from 3 85 down to three 15 in less than 20 seconds. It's very hard to control the risk and stuff like that. You know, if you were in it ahead of time, I would say, you know, obviously good job.And if you're still holding through all that, what do you want? You've got to ask yourself, what were you like? What were you going. Because when a stock goes from 180 to $500 in one day on an awesome report, is it going to a thousand is going to 2000. These things rarely last these moves we've seen again and again, Kodak, you know, we've seen, you know, the game stopped Nancy.They rarely last and AMC J GME have held up. But those highs that those stocks made when they were going parabolic, it was a day, a day or two. That's really the move. And then they never usually revisit those highs, or it's rare that they revisit those highs. AMC's the same story you had a two day move.Three-day move from $12 to $70 a share. And here we are, you know, six, eight months later, and we've still never revisited those highs. When the stocks go parabolic like GameStop two and two, three days, they make these ridiculous moves. I think you got to ring the register real quick. This, these are my levels in AMC that I will give at a nine.Fair enough. Fair enough. All right. Let's let's, let's go to, uh, uh, Zillow here. Um, I mean, this is just, this is just brutal stuff. Um, and, and, and it's sort of mind-boggling to think about, but, uh, you know, we talked about this yesterday on the antique clothes show. Cause it was, it was, it was pretty weak Intuit's report, which you don't see too often.Uh, and, uh, then they came out and said, yeah,…

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Another Stock Split For TSLA? Nov 02, 2021

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